European startup funding H2 2024
Half-year report · 2024-07-01 – 2024-12-31 · vs H1 2024
Half-year
Summary
auto-generatedIn H2 2024, 1,792 rounds were recorded and disclosed equity funding (excluding debt and grants) reached €22B, down 13.0% versus H1 2024. Debt rounds added a further €2.4B.
Deal count moved -8.5% versus H1 2024, with 3,548 named investors participating.
UK led by equity raised with €5.3B (23.7% of equity).
Software was the most-funded sector at €3.9B in equity (17.4%).
The ten largest rounds accounted for 18.8% of disclosed capital, led by Nebius's €666M.
298 exits were recorded this half-year worth a combined €18B.
Equity funding
€22B
▼ -13.0%excl. debt & grants · +€2.4B debt
Funding rounds
1,792
▼ -8.5%Companies funded
1,757
▼ -8.6%Named investors
3,548
▼ -12.5%Exits
298
▼ -16.3%Provenance: 86% of 1,792 rounds disclosed an amount · 95% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within +0.16%
Methodology →Investments
Funding within H2 2024
by monthFunding within H2 2024 — interactive chart.
Data table
| Amount | Deals | |
|---|---|---|
| Jul | €5.0B | 341 |
| Aug | €1.9B | 204 |
| Sep | €4.2B | 348 |
| Oct | €4.5B | 319 |
| Nov | €5.2B | 339 |
| Dec | €4.2B | 241 |
Biggest deals
top 10 by amount- 1NebiusOther · Netherlands · Dec 2024€666M
- 2team.blueOther · Belgium · Jul 2024€550M
- 3HR PathDebt · France · Jul 2024€500M
- 4odooOther · Belgium · Nov 2024€500M
- 5InsiderSeries D+ · Türkiye · Nov 2024€459M
- 6PoolsideOther · France · Oct 2024€452M
- 7HelsingOther · Germany · Jul 2024€450M
- 8SequraOther · Spain · Nov 2024€410M
- 9LighthouseSeries C · UK · Nov 2024€352M
- 10HostawayGrowth/Late · Finland · Dec 2024€348M
Concentration
top 10 deals18.8%
of disclosed capital came from the ten largest rounds.
Top 10 total
€4.7B
Period total
€25B
Countries
Top countries
equity raisedH2 2024 — top countries — interactive chart.
Data table
| H2 2024 — top countries | |
|---|---|
| UK | €5.3B |
| Germany | €3.6B |
| France | €2.4B |
| Netherlands | €1.7B |
| Spain | €1.5B |
| Belgium | €1.4B |
| Switzerland | €1.1B |
| Sweden | €1.0B |
| Finland | €854M |
| Italy | €576M |
Capital by country
share of equityH2 2024 — capital by country — interactive chart.
Data table
| H2 2024 — capital by country | |
|---|---|
| UK | €5.3B |
| Germany | €3.6B |
| France | €2.4B |
| Netherlands | €1.7B |
| Spain | €1.5B |
| Belgium | €1.4B |
| Switzerland | €1.1B |
| Sweden | €1.0B |
| Finland | €854M |
| Italy | €576M |
| Other | €2.9B |
Geographic distribution
European countries shown · click a countryH2 2024 — geographic distribution — interactive chart.
Industries
Top sectors
equity raisedH2 2024 — top sectors — interactive chart.
Data table
| H2 2024 — top sectors | |
|---|---|
| Software | €3.9B |
| Healthtech | €2.9B |
| Fintech | €2.8B |
| Energy | €1.9B |
| Transportation | €1.7B |
| AI | €1.2B |
| Cloud | €1.0B |
| Cleantech | €892M |
| Travel | €706M |
| Marketing | €528M |
Capital by sector
share of equityH2 2024 — capital by sector — interactive chart.
Data table
| H2 2024 — capital by sector | |
|---|---|
| Software | €3.9B |
| Healthtech | €2.9B |
| Fintech | €2.8B |
| Energy | €1.9B |
| Transportation | €1.7B |
| AI | €1.2B |
| Cloud | €1.0B |
| Cleantech | €892M |
| Other | €6.3B |
Stages
Funding by stage
total euro raised by round typeH2 2024 — funding by stage — interactive chart.
Data table
| Amount | |
|---|---|
| Pre-Seed | €233M |
| Seed | €1.0B |
| Series A | €2.8B |
| Series B | €2.1B |
| Series C | €1.7B |
| Series D+ | €1.3B |
| Early VC | €5.7M |
| Growth/Late | €755M |
| Debt | €2.4B |
| Grant | €172M |
| Crowdfunding | €6.1M |
| Other | €12B |
Exits
Exit activity
298
exits recorded
€18B
combined disclosed value
Exits breakdown
by typeH2 2024 — exits by type — interactive chart.
Data table
| H2 2024 — exits by type | |
|---|---|
| Acquisition | 282 |
| Merger | 14 |
| Unknown | 2 |